With World Elite MasterCard, Fifth Third Private Bank's Affluent Clients Can Now Take Advantage of Exclusive Services and Global Acceptance
PURCHASE, N.Y., July 7 /PRNewswire-FirstCall/ -- MasterCard Worldwide today announced that Fifth Third Private Bank, one of the largest Private Banks in the Midwest, has launched World Elite MasterCard, a premium credit card for its elite affluent clients. Unlike other payment products geared to these audiences, the World Elite MasterCard offers cardholders a rich mix of travel benefits, including airline, cruise and hotel benefits, in addition to robust rewards, and global acceptance.
(Logo: http://www.newscom.com/cgi-bin/prnh/20061031/MCLOGO ) World Elite MasterCard is designed to meet the needs of the elite affluent demographic segment, often defined as those with annual household incomes greater than $250,000, who spend over $40,000 annually on credit cards. According to the American Affluence Research Center, elite affluent consumers account for the wealthiest 10 percent of U.S. households, and represent 40 percent of all American income. Unity Marketing's Luxury Report 2008 presents data that shows that -- despite a decline in some industries -- elite affluent consumers continue spending on luxury goods. In fact, in 2007, spending by this group totaled $321.9 billion in the U.S. alone.
"Our deep insights into the elite affluent segment keep us extremely focused on meeting the needs of this population. Increasingly, these consumers demand a high-degree of personal service, exclusive travel opportunities and access to unique and memorable experiences. Through World Elite MasterCard, we're helping issuers around the world deliver value to this influential group of consumers," said Bill Mathis, Group Executive, U.S. Relationship Management, MasterCard Worldwide. "We are very excited to be partnering with Fifth Third Private Bank to offer their top clients World Elite MasterCard." World Elite offers exclusive perks including complimentary airport club access, 24/7 concierge service, as well as a personal travel advisor and other unique travel privileges through MasterCard's relationship with Virtuoso, the leading luxury travel network.
"At Fifth Third Private Bank, we recognize that the affluent segment is rapidly expanding and is becoming a critical driver of our growth," said David J. Pittman, president, Fifth Third Private Bank. "We always put our clients first, and offering them the World Elite MasterCard is just another example of our commitment to providing them with the best options to suit their needs." Pittman added, "World Elite MasterCard is more than just a credit card. It offers our clients an exclusive array of experiential and travel benefits few payment products can offer." For more information about the Fifth Third Private World Elite MasterCard, contact a local Fifth Third Private Bank Advisor.
About MasterCard Worldwide MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard(R), Maestro(R) and Cirrus(R), MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to http://www.mastercard.com/.
About Fifth Third Bancorp Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $111 billion in assets, operates 18 affiliates with 1,316 full-service Banking Centers, including 102 Bank Mart(R) locations open seven days a week inside select grocery stores and 2,335 ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Pennsylvania, Missouri, Georgia and North Carolina. Fifth Third operates five main businesses: Commercial Banking, Branch Banking, Consumer Lending, Investment Advisors and Fifth Third Processing Solutions. Fifth Third is among the largest money managers in the Midwest and, as of March 31, 2008, has $212 billion in assets under care, of which it managed $31 billion for individuals, corporations and not-for-profit organizations. Investor information and press releases can be viewed at http://www.53.com/. Fifth Third's common stock is traded on the NASDAQ(R) National Global Select Market under the symbol "FITB." Member FDIC. Equal Housing Lender.
Fifth Third Private Bank is a division of Fifth Third Bank offering banking, investment and insurance products and services. Fifth Third Bancorp provides access to investments and investment services through various subsidiaries. Investments and Investment Services: Are Not FDIC Offer No Bank May Lose Value
Insured Guarantee Are Not Insured By Any Federal Are Not A
Government Agency Deposit
Insurance products made available through Fifth Third Insurance Agency, Inc. DATASOURCE: MasterCard Worldwide CONTACT: Jon Schwartz, MasterCard Worldwide, +1-914-249-6806, Web site: http://www.mastercard.com/ http://www.53.com/
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